CCIA predicts 30% growth in footwear and travel product orders
CCIA predicts 30% growth in footwear and travel product orders
The Cambodia Confederation of Investors Association (CCIA) forecasts that orders for footwear and travel products will increase by 20 to 30 percent in 2025 compared to 2024, while the Kingdom earned approximately $1.3 billion from the export of footwear products to international markets during the first 10 months of 2024.
Ly Khun Thai, Chairman of the CCIA and also Chairman of Cambodia Footwear Association (CFA), said on Tuesday that numerous factories have secured a series of orders from major companies impressed by the high-quality of Cambodian-made products.
The buyers have also expressed interest in visiting the factories in person after seeing the products directly at previous exhibitions.
“I believe that once the buyers visit the factories, they will place orders soon. This increase in orders will provide more job opportunities for workers, contributing to improved employment prospects,” said Khun Thai.
He said that exports in sectors such as garments, travel products, bags, and footwear are expected to show positive growth in 2025. This optimism is attributed to Cambodia’s stable economic and political environment, as well as the high level of confidence buyers and international factories have in the country.
“The CCIA predicts that for 2025, orders for apparel, footwear, and travel products will increase by 20 to 30 percent over 2024,” Khun Thai emphasised.
According to Khun Thai, Cambodia’s largest export markets currently include the US, Europe, the UK, Canada, Korea, and Japan.
Additionally, footwear products are now being exported to China, facilitated by the FTA signed between Cambodia and China. This agreement has provided Cambodia with an opportunity to expand footwear exports to China, overcoming previous challenges posed by high import tariffs.
There are 155 footwear factories with 155,989 workers throughout the country.
From January to October 2024, Cambodia earned approximately $1.3 billion from the export of footwear products to international markets, Khun Thai added.
Attending a meeting and a solidarity dinner with global entrepreneurs on November 12 at the Koh Pich Convention and Exhibition Centre, Prime Minister Hun Manet assured the foreign investors that their investments are safe in Cambodia, as it provides a stable environment for businesses. “Investing in Cambodia opens opportunities to many other parts of the world.”
“Because Cambodia has many free trade agreements such as with ASEAN, RCEP, Cambodia-Korea FTA, Cambodia-China FTA and Cambodia-UAE CEPA, investing in Cambodia provides access to other parts of the world,” the Premier added.
